June 13, 2012– ATHENS – Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro. Bankers said up to 800 million euros ($1 billion) were leaving major banks daily and retailers said some of the money was being used to buy pasta and canned goods, as fears of returning to the drachma were fanned by rumors that a radical leftist leader may win the election. The last published opinion polls showed the conservative New Democracy party, which backs the 130 billion euro ($160 billion) bailout that is keeping Greece afloat, running neck and neck with the leftist Syriza party, which wants to cancel the rescue deal. As the election approaches, publishing polls is now legally banned and in the ensuing information vacuum, party officials have been leaking contradictory “secret polls.” On Tuesday, one rumor making the rounds was that Syriza was leading by a wide margin. “This is nonsense,” one reputable Greek pollster said on condition of anonymity. “Our polls show the picture has not changed much since the last polls were published. Parties may be leaking these numbers on purpose to boost their standing.” The pollster said there was some consolidation, with voters turning to New Democracy and Syriza from smaller parties but the pool of undecided voters remained unusually large so close to the election and the result was impossible to predict. Both parties say they want Greece to remain in the single currency but Syriza has pledged to scrap the bailout agreement signed in March which has imposed some of the toughest austerity measures seen in Europe in decades. The European Union and International Monetary Fund have warned that Greece, which has only enough cash to last for a few weeks, must stick to the conditions of the bailout deal or risk seeing funds cut off. –CNBC

Greek banks hemorrhaging:As Bloomberg’s Marcus Bensasson reports, citing Kathimerini, the Greek banking system has continued to hemorrhage deposits this month, amid uncertainty over the outcome of elections on June 17. “Many people are putting money in shares of mutual funds denominated in dollars because of the bureaucratic difficulty of taking money out of Greece, or are keeping cash at home, the newspaper said.” How much? “Deposits are leaving the banking system at a rate of 100 million to 500 million euros ($125 million to $625 million) a day, Kathimerini said, without specifying over how long a period that rate of outflow has continued.” Considering that the Greece banking system has about €170 billion in total deposits, this is roughly 0.3% of the entire deposit base fleeing each day – those who understand the nuances of fractional reserve banking get why this could be an issue. Putting this in the US context, which has over $8 trillion in various forms of deposits; this would be equivalents to about $25 billion getting withdrawn every day. –Zero Hedge

Blimey-oh-Riley! Only yesterday, I read that English bank customers may be facing their banks putting ATM restrictions on us all in the near future. Whatever that means, I suppose that if we go over a set amount of ATM transactions in whatever the time period may be, we’ll incur bank charges. I suppose it has to come.😦 Also, certain banking ATMs will allow customers to make charity payments straight from the machine. I suppose that’ll have its own concerns as those who interrupt transactions by placing certain machinery on the ATMs to steal from us may become more of a hassle than they currently are! Time and the news will tell…

This brings back memories of the Great Depression in the United States when there was a run on banks. What is scary is it seems no one has come up with a solution to this finanical disaster. The United States’s ability to print money is the only thing keeping our economy somewhat afloat.
However inflationary pressures are increasing due to our non-stop printing of money.

Economic fundamentals are very poor. You have a continued recessinon in Europe. For example, Spain’s unemployment rate has reached 24 percent. Cyprus also might need a bailout as well.

The U.S has amassed 15.775 trillion in debt. According to U.S debt clock org website the United States is exposed to 728 trillion in derivatives. Student loan debt has reached 1 trillion dollars. Since new graduates are saddled with debt, they are having a harder time purchasing economic growth catalysts such as automobiles and houses.

There is no solution to the financial disaster. They set it up to be that way and they continue to spend MORE instead of trying to do ANYTHING about it. They are doing everything they can to cause a world wide disaster. It’s all a means to an end. The end being complete control and the new world order

This was written in 2008 -The Size of Derivatives Bubble = $190K Per Person on Planethttp://www.siliconvalleywatcher.com/mt/archives/2008/10/the_size_of_der.php
We are just watching the “Black Swans”, such as cascades of bankruptcies and nationalizations, unravel. I love the (Flops) term, that’s like Madoff Making off with everyone’s money! The ATCA ‘s 1,000 leading individual and private philanthropists, family offices, foundations, private banks, non-governmental organisations and specialist advisers can just put the money back now that have accumulated it from all this financial wizardry.

The collapse of our monetary system. Are we on the brink of an evolutionary leap? Changes are happening all over the world. Is this a cycle repeating itself and has it happened every 5,000 years since the beginning of time? Are these big changes what is known as the ‘ascension’.

In my opinion and I could be wrong, in the future, perhaps the near future,gold and silver will be worthless, if you cannot buy anything. You cannot eat it. It looks like the Greeks have suddenly become “Prepers” I know I have and you might want to think about it………

Dennis E., Ronni here…..
I completely agree. I can’t understand why so many people keep saying that they are buying as much gold and/or silver as they can. I also believe it will be worthless. We will be moving to a barter system of goods or services. Cash, gold, and silver will mean nothing.
Blessings friend.
Ronni

The Greeks have to do the same as what Iceland did and say “up yours” to the banks, they the banks are the ones that owe you not the other way round,.they never had the money in the first place to them its just numbers in a computer so why then do you have to pay it back.When I went to school the sum nothing from nothing equals nothing but the banks owe you for all the interest you paid.
Get out of the euro and start living as human beings again we are all with you.

Stewart says “…they continue to spend MORE instead of trying to do ANYTHING…”
Well, let me put it this way..
There’s a war ongoing, U’ve been captured by the enemy forces, they’re torturing U many days now, in a very painful way, U’re trying to find a way out of this as long as U’re conscious & U retain U’r strength..
Actually, U have found a way out, there’s a weak point in the perimeter, U’ve pinpointed some hours ago, but its almost 99% probability they’re gonna catch U again.. In fact, one of them has understood what passes through U’r mind & he tells U “Don’t dare, the tortures will be much more enhanced after we bring U back in here…”
Well, let me assure U Stewart & others… I prefer to run to that 1% of escaping, instead of staying in the dungeon contemned…
Except of course in case the dungeon is run by a beautiful female….
axaxaxaxaxaxaxaxaaxaxaxaxaxaxaxaxaxaxaxaxaxaxa

But you have to finish that quote Ezekiel 19‘They will fling their silver into the streets and their gold will become an abhorrent thing; their silver and their gold will not be able to deliver them in the day of the wrath of the LORD. They cannot satisfy their appetite nor can they fill their stomachs, for their iniquity has become an occasion of stumbling.
The Temple Profaned

20‘They transformed the beauty of His ornaments into pride, and they made the images of their abominations and their detestable things with it; therefore I will make it an abhorrent thing to them. 21‘I will give it into the hands of the foreigners as plunder and to the wicked of the earth as spoil, and they will profane it. 22‘I will also turn My face from them, and they will profane My secret place; then robbers will enter and profane it.

23‘Make the chain, for the land is full of bloody crimes and the city is full of violence. 24‘Therefore, I will bring the worst of the nations, and they will possess their houses. I will also make the pride of the strong ones cease, and their holy places will be profaned. 25‘When anguish comes, they will seek peace, but there will be none. 26‘Disaster will come upon disaster and rumor will be added to rumor; then they will seek a vision from a prophet, but the law will be lost from the priest and counsel from the elders. 27‘The king will mourn, the prince will be clothed with horror, and the hands of the people of the land will tremble. According to their conduct I will deal with them, and by their judgments I will judge them. And they will know that I am the LORD.’”
And that’s what its all about!! Like watching the hokey poky you know what the next move is!